The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-04-20
CHIcAGo's GRAIN STORAGE.
All the Regular houses damned to Over.
fowing-COrn and Provisions Dull.

All the Regular houses damned to Over
howing-COrn and Provisions Dull.
Special to the Sentinel.
CHICAGO, April 16.-For the first time since
the famous Keen wheat deal of nearly decade
ago, Chicago's grain storage room is all Oecu-
pied. All the regular houses are jammed to
OVERLOOKING, and now traders who have sold for
May delivery, with the expectation of bringing
the wheat forward from the interior, are in
state OF great anxiety. The grain must be in
regular elevator to make the receipts de-
hverable. This grain blockade is the reason
that May wheat "afOat''-that is in vessels on
the river-is selling 41zc below the May option
shorts are making all sorts OF extraY-
sgsnt offers for storage room now occu-
pied by corn, but are getting very
little satisfaction from elevator men.
Each must take his turn. The biggest shorts are
banking chiefly on the known fact that the
present Board OF Directors is bearishly inclined.
Over month ago they tried to down the clique
by an extravsgsnt call for margins and after
ward by substituting the June for the May OPP
ton on the quotation dial. Now it is natural
to suppose that they VIII take any action which
may be necessary to make it possible for a seller
who actually brings wheat here to make his
delivery" Under one view of the case 1t seems
bat simple justice that no warehouse rule
shoHld prevent seller who is prepared to de-
liver his property from making his contract
good, but already several elevators have been
made regular which are not on the river, and
whose receipts are therefore practically worth
less except to fill "short' sales.
The weather is not receiving as much atten-
ton as it did last week. Local rains are report
ed in different parts of the West and Southwest,
but the weight of testimony is that the winter
wheat country as a whole has not yet been
greatly benefited by the descent of moisture.
Still, Cincinnati appears to be the head-center
OF the erop-killing bureaus, which fact tends to
throw discredit upon the news, as that city is
the headquarters OF the great Standard Oil bull
CLIQUE, and they naturally wish to have the
winter wheat destroyed with as little delay as
possible. Then, too, the trade is beginning to
realize that rain in the West will not fill May
contracts any better than wind.
The Msydeal in its present phases is mere
guess values depending entirely upon clique
actions or gossip as to their planks, SO far the
syndicates brokers-KeTshaw Il Co. and Irwin
Green & Co.-seem desirious Of keeping prices
down, rather than advancing them. This seems
evidence against the theory that the combina-
ton proposes to push the market pas high as
possible and then break for tall timber before
the grain can be delivered to them.
Corn rules dull and heavy. Norm, Ream *
Partridge are the leading shorts and declare
they will not cover under S5e. The chief hope
OF the bulls is that wheat may be boosted sky
wsrd and the corn market sympathize. The
lack of demand for the corn property and the
PC carrying charge are the worst features OF
the deal.
Provisions remain liIeless and nearly nominal.